Wakefield getting finances under control

WAKEFIELD TRINITY WILDCATS have posted their latest accounts at Companies House.

And, although the accounts for the year ended 30 November 2014 are unaudited and don’t include a profit and loss account, they appear to show that the club made a small profit of just over £20,000 for the 2014 season.

At the end of the year the club had net liabilities of £1,511,688, but of that figure £1,016,974 is owed to shareholders, of which £853,500 is owed to Chairman Michael Carter.

“They have agreed that these accounts will not be repaid until such time as the company has adequate funds available to allow it to pay its other debts as they fall due,” says a note to the accounts.

“Following the year end the company has continued to pay its creditors as they fall due. All amounts due to HMRC as disclosed on returns filed have been pad on or before their due dates; all loan payments to the RFL have been made on a timely basis and all trade creditors are being paid on terms.”

At the balance sheet date the amount owed to the RFL was £134,750, reduced from £377,499 a year earlier.

Meanwhile Sir Rodney Walker, the Chairman of the Wakefield Community Stadium Trust, has told League Express that he is growing more optimistic about securing a new stadium for the club.

“It’s been a long haul and there is still a long way to go, but you are speaking to me at the end of a week in which we have seen more progress in terms of my optimism for a successful outcome than we’ve seen for a year or two,” said Sir Rodney.

“The problem is that I’ve had three different Chairmen to work with and a change in the economic environment. When we started this process, raising money wasn’t as difficult as it is now.

“I am more optimistic now than I have been for some time that we will get a new stadium for Wakefield fit for purpose.

“The club is very keen to go to a new stadium at Newmarket and I was with the developer 48 hours ago. They are still committed to helping the club financially wherever the decision is to have the stadium.

“There is unquestionably a groundswell among some supporters that Belle Vue should be refurbished as part of a development project for the whole of that area of Wakefield. The local Council has announced a new outer ring road for Wakefield that will pass very close to the Belle Vue area.

“But for now all I want to say that I am more optimistic than I have been for some time that we will be able to secure a new stadium for the club.”

Less promising, however, is the prospect of retaining current coach Brian Smith for next season. League Express understands that Smith is likely to return to his farm in Australia at the end of the season.

This article should have featured in the issue of League Express dated 31 August 2015, but, due to a technical error, it was inadvertently omitted.